Listing: TSX-V
Symbol: CYM
TORONTO, Nov. 25, 2019 /CNW/ - Cymat Technologies Ltd.
(the "Company" or "Cymat") is pleased to provide an update on the
application of Cymat's SmartMetalTM Stabilized Aluminum
Foam (SAF) by their customer, Nobel Sport. Nobel Sport is a
French-based law enforcement specialty manufacturer of a wide range
of ammunition and ancillary products for sport, law enforcement and
military customers.
Cymat has delivered over 38,000 SmartMetalTM
cylinders to Nobel Sport to be used in their manufacture of
non-lethal bullets, which are safer, more accurate and less harmful
compared to current products in the market. These non-lethal
bullets were in turn provided to the French Armed Forces for
evaluation and testing in 2018. After successful completion of
rigorous testing, the French Armed Forces has now certified these
non-lethal bullets for active use. Consequently, Nobel Sports
anticipates receiving their first commercial-scale order for same
from the French Armed Forces imminently.
Non-lethal bullets are primarily used for crowd control and as a
deterrent in both civilian and military situations where
less-than-lethal force is determined to be the best course of
action. While rubber bullets have traditionally been used in these
situations, there have been numerous instances where their use has
resulted in serious physical harm and fatalities. As such, there is
significant interest by law enforcement agencies and military
forces around the world to find a suitable replacement.
According to a recent report, non-lethal ammunition sales
exceeded $800 million in 2018 and are
expected to reach well in excess of $1
billion by 2023 (Source:
https://www.globenewswire.com/news-release/2019/02/19/1734079/0/en/Less-Lethal-Ammunition-Market-Global-Forecast-to-2023-Focus-on-Rubber-Bullets-Bean-Bag-Rounds-Plastic-Bullets-Paintballs.html).
As a result of this certification from a large and prominent
military, Nobel Sport now intends to commence an aggressive
international marketing program for these non-lethal bullets.
Michael Liik, Cymat's CEO states
"We are excited to be working with Nobel Sport, an established
leader in their field. This certification by the French Armed
Forces positions them well to drive additional sales on a global
basis". "This represents a large market opportunity for Cymat and a
substantial new revenue stream" he added.
About Cymat:
Cymat Technologies Ltd. is an innovative materials technology
company employing a proprietary process to manufacture our unique
Stabilized Aluminum Foam ("SAF"). Cymat SAF is an advanced
lightweight recyclable material with a wide array of features
including customizable density and dimensions, energy absorption
and thermal and acoustic insulation. Cymat is focused on producing
SAF for architecture, blast mitigation, automotive, transportation
and industrial markets.
Cymat's architectural brand, AlusionTM, has become an
accepted choice for superior and unique cladding and façade
alternatives for the building industry. The AlusionTM
brand is recognized globally, having completed projects on almost
every continent.
Cymat's SmartMetalTM division has developed proven
products for energy absorption applications including blast
mitigation for the military sector and impact reduction for the
nuclear energy sector. Cymat is working with numerous manufacturers
and solution providers around the world for the integration of
SmartMetalTM into kinetic energy management systems.
Cymat is based in Mississauga,
just outside Toronto, where it
operates a 2.400 sq. metre plant. For further information on Cymat,
please visit our Web site www.cymat.com.
SOURCE Cymat Technologies Ltd.